CZR RESOURCES LTD — Investor Presentation 2012

Mar 19, 2012

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COZIRON RESOURCES LIMITED PRESENTATION

March 2012

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Disclaimer

• DISCLAIMER

• This presentation has been prepared by Coziron Resources Limited (“CZR”). The information contained in this presentation is a professional opinion only and is given in good faith. Certain information in this document has been derived from third parties and though CZR has no reason to believe that it is not accurate, reliable or complete, it has not been independently audited or verified by CZR. Any forward-looking statements included in this document involve subjective judgment and analysis and are subject to uncertainties, risks and contingencies, many of which are outside the control of, and may be unknown to, CZR. In particular, they speak only as of the date of this document, they assume the success of CZR’s strategies, and they are subject to significant regulatory, business, competitive and economic uncertainties and risks. Actual future events may vary materially from the forward-looking statements and the assumptions on which the forward-looking statements are based. Recipients of this document (Recipients) are cautioned to not place undue reliance on such forward-looking statements. CZR makes no representation or warranty as to the accuracy, reliability or completeness of information in this document and does not take responsibility for updating any information or correcting any error or omission which may become apparent after this document has been issued. To the extent permitted by law, CZR and its officers, employees, related bodies corporate and agents (Agents) disclaim all liability, direct, indirect or consequential (and whether or not arising out of the negligence, default or lack of care of CZR and/or any of its Agents) for any loss or damage suffered by a Recipient or other persons arising out of, or in connection with, any use or reliance on this presentation or information.

• This presentation is not an offer, invitation, solicitation or recommendation with respect to the subscription for, purchase or sale of any security, and neither this presentation nor anything in it shall form the basis for any contract or commitment whatsoever.

• All amounts in Australian dollars unless stated otherwise.

• COMPETENT PERSONS STATEMENT

• The information in this report that relates to mineral resources and exploration results is based on information compiled by David Compston BScHons, PhD, MAIG. David Compston is a Consultant Geologist for the Creasy Group and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. David Compston has given his consent to the inclusion in this report of the matters based on the information in the form and context in which it appears.

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About Coziron

• IPO 25 August 2006. Main asset an 85% interest in an Iron Sands JV in Indonesia

• Company suspended from ASX on 5 August 2009

• Reinstated to ASX Trading following DOCA on 24/2/11

• New Board Members/Management

• New key shareholder

• Yandal Investments Pty Ltd (Mark Creasy) - 38.5%

• Recapitalised – $2.5M cash at bank, no debt

• Continued review of Iron Sands JV

• Major acquisition of three key projects announced on 02/01/12

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Corporate

• ASX Code CZR

• • Shares on Issue (Pre-Transaction) 454,473,654 • Shares on Issue (Post Transaction ex funding) 954,473,654 • Shares on Issue (Post Transaction incl funding) 1,154,473,654 • Options On Issue Nil • Share Price (as at 06/03/12) $0.093 • Cash on Hand (as at 31/01/12) 2.1M • Market Capitalisation (Pre-Transaction) $42.3M

• • Market Capitalisation (Post Transaction ex funding) $88.8M

Directors/Senior Management Adam Sierakowski Stephen Lowe Kwong Choon Soong

Chairman Non Executive Director Non-Executive Director

Stephen Hewitt-Dutton

Company Secretary

Major Shareholder Mark Creasy Yandal Investments Pty Ltd

Existing Holding 174,857,000 (38.5%) Post Transaction 674,857,000 (70.7%)

Post Transaction and Capital Raising 674,857,000 (58.5%) ($20M)

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Directors Bios

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Mr Adam Sierakowski

Adam Sierakowski is the co-founder and managing director of Perth based corporate advisory business, Trident Capital. Mr Sierakowski has held a number of board positions with ASX listed companies. He is a member of the Australian Institute of Company Directors and the Association of Mining and Exploration Companies. He is a lawyer and director of the legal firm Price Sierakowski. He has over 15 years’ experience in legal practice, much of which he has spent as a corporate lawyer consulting and advising on a range of transactions to a variety of large private and listed public entities.

Mr Kwong Choon Soong

Mr Soong was previously General Manager of Malaysia Airlines based in Perth, Australia. He has worked with the airline for over 25 years as a senior manager, and also as Director of Industrial Relations. His qualifications include a Bachelor of Arts Degree. Mr. Soong is currently a Director of 2 private limited companies involved in information technology.

Mr Stephen Lowe

Mr Stephen Lowe is a taxation specialist with over 15 years experience consulting to a wide range of corporate and private clients on a broad range of taxation issues including mining and international matters, GST and CGT. He is a former director of the Perth based specialist taxation firm MKT - Taxation Advisors as well as former non-executive director of Apex Minerals Ltd. He is currently a director of Sirius Resources NL.

His qualifications include a Bachelor of Business, Post-Graduate Diploma in Advanced Taxation and a Master of Taxation from the University of New South Wales. Steve is a Fellow of the Taxation Institute of Australia and a Member of the Australian Institute of Company Directors.

Mr Lowe is currently the business manager for major shareholder Mark Creasy’s business group.

Mr Stephen Hewitt-Dutton – Company Secretary

Mr. Hewitt-Dutton has over 20 years of experience in corporate finance, accounting and company secretarial matters. He is an Associate Director of Trident Capital and holds a Bachelor of Business from Curtin University, is an affiliate of the Institute of Chartered Accountants and a Senior Associate of FinSIA.

Before joining Trident Capital, Mr. Hewitt-Dutton was an Associate Director of Carmichael Corporate where he assisted clients by providing equity market, IPO and M&A advice and assistance. He has also held Financial Controller and Company Secretary positions for both public and private companies for in excess of 15 years.

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Acquisition of Three New Projects

• Acquisition of 85% interest in three key projects for total issue of 500M shares @ deemed value of $15M ($0.03 per share)

• Vendor retains 15% free carried interest through to end of any Bankable Feasibility Study

• Vendor entitled to be partially reimbursed past exploration expenses limited to a maximum of $2M

• CZR to raise a minimum of $10M at $0.10 or greater within 165 days from transaction

• Projects

• Zanthus Resources Pty Limited* (Yarraloola Project) – Iron (Fe) Goethite/Hematite

• Buddadoo Metals Pty Limited* (Buddadoo Project) – Iron (Fe) Magnetite; VMS Cu/Zn

• KingX Pty Limited* (Kingston Project) - Manganese

• All entities associated with Mr Mark Creasy

•

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CZR – Project Locations

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Yarraloola Project Potentially the next significant Iron Ore project in the Pilbara

• Nine contiguous tenements totalling 1,400 km[2] , the largest non listed company held land package in the Pilbara Archean Hamersley Province.

• Marra Mamba Formation, Wittenoom Dolomite and Brockman formation Iron Ore occurrences dominate eastern half of the project area.

• Significant geological work completed, including a close spaced aero magnetic survey, stream sediment sampling, rock chip sampling and geological mapping identifying numerous drilling targets.

• Magnetics indicate substantial strike length of key iron ore formations – Brockman (26 kms) and Marra Mamba (29 kms).

• Over 231 surface samples return high, anomalous Fe results (> 40%). 44 Samples > 55% Fe.

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• No drilling on tenements to date.

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Yarraloola Project – Observations

• The most Northwestern occurrence of the Marra Mamba formation.

• Approximately 30 strike kilometres of Marra Mamba formation thought to be prospective for DSO quality Fe.

• Widespread iron alteration in the upper most unit of the Marra Mamba formation has been mapped and sampled.

• A Northeast-Southwest trending and southwesterly plunging synclinal structure approximately 5 kilometres in width has been mapped in the northern portion of the project area.

• Extensive Brockman Formation magnetite BIF indicated throughout southern portion of tenements.

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Western Australia

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Note: Yarraloola Project tenements are closest to coast of any Marra Mamba formation within the prolifically iron ore rich Hamersley Basin, and on strike from many major mines

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Yarraloola Project – Infrastructure

• Adjacent to North West Coastal Highway

• 120 kms southwest of Karratha and Port of Dampier

• Robe River Railway and DampierBunbury Gas Pipeline traverse tenements

• Proximity to Dampier-Bunbury Gas Pipeline

• Proposed Railway for the Australian Premium Iron (“API”) JV to proposed Anketell Port traverses tenements

• Established regional service centres adjacent to tenements such as Panawonica

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Yarraloola Project- Region

• Rio Tinto, Mesa A and Mesa J mines (Robe River) immediately south

• Sino Iron project, 50 kms to the north. Approximately 5 Bn tonnes of magnetite.

• API JV developing mines 10 to 60 kilometres to the south. Includes 160 km heavy haul railway and new port at Anketell Point approved for development.

• Fortescue Metals intends to connect their proposed central Pilbara railway to the port at Anketell Point with plans to ship an additional 40 m tpa of ore.

• Zanthus granted rights to CID deposits to Red Hill Iron Ore Ltd (RHIO) in one Zanthus tenement (E08/1685). RHIO have identified an inferred resource of 71M tonnes of ore at 54.1% Fe.

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Yarraloola Project- Comparative

• Yarraloola Project

• West Angelas Deposit

• A synclinal structure (~ 5kms x 4 kms) outcropping DSO quality Fe on top of Marra Mamba formation

• Opened in 2002 – “...marra mamba reserves, regarded as the next generation of Australian iron ore” Rio Tinto

• Main minerals are martite and geothite – typical of Marra Mamba ore

• Near Surface Mineralisation – 44 surface samples grading > 55%

• Located in synclinal structure (~ 1.5 kms x 0.5 kms) within Mt Newman member at top of Marra Mamba formation

• Main minerals are martite and goethite

• 120 kms to Cape Lambert Port

• Near surface mineralisation

• JORC reserves in excess of 400Mt @ 61.7% Fe

• Annualised production rate of ~ 25M tpa (based on 6 months to June 30 2011)

• 320 kms to Cape Lambert port by rail

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Exploration Targets

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NB: Proposed drilling targets based on >50% Fe surface samples.

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AREA 3
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Area 4
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Yarraloola - Summary

• Analogous geology to West Angelas operating mine – but with significantly larger synclinal structure

• Significant target geology completed confirming all major Fe formations present

• Drilling to commence in May 2012

• Significant potential infrastructure including both rail and port

• Close proximity to shipping ports and world class iron ore mines

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King-X Project Early Exploration Manganese Project – Kalahari Basin Analogue

King-X Project tenements located in the Earaheedy Basin of WA which is situated approximately 100 Kms Northeast of Wiluna Advanced geological sampling and mapping completed showing significant Manganese outcropping Rock chip samples – 82 with grades > 30% Mn and 25 with grades > 40% Mn

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King-X Project

The tenement package is contiguous over the Manganese rich horizon with approximately 120 kms of strike length

Identification of palaeo lake beds and palaeochannels with Fe rich pisolite gravels showing prospectivity for CID’s Epithermal style quartz indicating prospectivity for gold and base mineralisation

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King-X Summary

Kalahari basin in South Africa has a similar scale, age and formation history to the Earaheedy Basin in WA. The Kalahari basin is home to 50% of world’s known Manganese resource and produces 80% of the World’s high quality Manganese.

Earaheedy basin has the potential to host significant Manganese deposits.

King – X tenements are located 300kms from the rail head at Malcolm (near Leonara) and Manganese ore could be processed on site and transported by road to Malcolm and by rail to the ports of Esperance or Fremantle.

Substantial package of contiguous tenements with numerous high grade Manganese samples throughout.

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Buddadoo Project

VMS Magnetite Project in WA’s emerging mid west province

The Buddadoo project is located approximately 425 km north of Perth and 180 km east of Geraldton

Exploration to target a massive titanomagnetite deposit

The tenement E59 /1350 which contains the Buddadoo complex is approximately 8.6 kms long and 2.4 wide.

Assays up to 54% Fe, with best drill intersection of 108 metres @ 32.9% Fe and 12.1% TiO 2

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Also contains results of 3.15 metres @ 3.8% Cu and 3.4% Zn. Rock chip samples containing malachite with up to 20% Cu

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Buddadoo Project

Infrastructure

The Buddadoo project has proximity to infrastructure with the rail siding at Morawa approximately 70 km to the South West. The Morawa to Yalgoo road which is currently being upgraded, intersects the tenements provides trucking access.

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CZR – Exploration Budget

• 1 Preliminary drilling on Yarraloola Project

$500,000

• 2 Pilbara Heritage and Site access development

$400,000

• 3 Infill drilling (JORC) on Yarraloola Project

• 4 Preliminary drilling on King-X Project

• 5 Infill drilling (JORC) on King-X Project

• 6 Follow up drill program on Buddadoo Project

$9,000,000 $800,000 $4,500,000 $500,000

This is a preliminary estimate only based on a capital raising of $20m and will be adjusted as geological results merit.

The first drill program on the Yarraloola project is forecast to enable 80 RC drill holes to be completed.

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Timetable

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CZR Shareholder Infill Drilling
meeting to approve CZR fundraising Yarraloola Project
Transaction completion
Infill Drilling
Aboriginal Heritage King-X Project
Preliminary Drilling
Survey for Yarraloola
Yarraloola Project
completed
Preliminary Drilling
Buddadoo Project
Preliminary Drilling
Drilling Contractor
King-X Project
Engaged for
Yarraloola
First JORC resource
JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC
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2012

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Investment and Valuation

• CZR currently seeking fundraising proposals to raise $20m

• Funds to be raised at a price not less than $0.10

• $20m capital raised will result in issue of 200m shares in CZR equating to approx 17.5% of the company

• Yaraloola project has the potential to host significant deposits of DSO quality Fe, with location near infrastructure and ports

• Buddadoo project could host a significant midwest magnetite project close to infrastructure

• King-X project has potential to host significant deposits of Manganese with infrastructure solutions conceptualised

• Following examples of recent valuations from takeovers of ASX listed Pilbara Iron Ore explorers

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Pilbara Valuation Comparisons Pilbara Iron Ore Company’s Takeover values over recent years

Target Company	Product/ Resource	Purchase Price	Buyer
Flinders Mines (ASX: FMS) Current offer – Company to be bought via a Scheme of Arrangement, Scheme document released to shareholders 15 February 2012 Scheme Meeting to be held 30 March 2012 to approve the scheme	Indicated Resource Estimate (Delta deposit, April 2010) of 157 Mt at 56.5% Fe; and Global Mineral Resource Estimate (November 2011) of 750 Mt at 55.6% Fe.	Scheme booklet:30cper share, valuing the (undiluted) company at $546 Millionbased on 1,821,300,404 ordinary shares, (Appendix 3B 2 December 2011)	Magnitogorsk Iron and Steel Works a company registered in Russia Listed on: LSE: MMK RTS: MAGN MICEX: MAGN
Brockman Resources (ASX: BRM) Announced 12 December 2011 Bidder’s /Target statement released 21 December 2011 Current offer – takeover bid has been extended to 19 March 2012	Marillana Project(as per Target Statement 15 December 2011) Measured resource of 173 Mt at 41.6% Fe Indicated resource of 1,154 Mt at 43.0% Fe, and Inferred resource of 201 Mt at 40.7% Fe Also own theDuck Creek,West HamersleyandMt Stuartprojects, which are in early stages of exploration. Initial sampling indicates hematite mineralisation grading 56-64% Fe at the West Hamersley project and an average of 58% Fe (with low contaminants) in the Mt Stuart project.	$1.50 cashand18 Wah Nam Shares per share This equates to$3.03per share, valuing the company at approx $439 Milionbased on 144,933,151 ordinary shares (Appendix 3B 27 February 2012)	Wah Nam International Australia Pty Ltd, subsidiary of Wah Nam International Holdings (ASX: WNI, HKEx: 0159)

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Pilbara Valuation Comparisons

Territory Resources (ASX:TTY) On Market takeover completed July 2011	As at 31 March 2011: Frances Creek Project Total Indicated and Inferred Resources of 9.28 Mt at 58.0% Fe. Probable Ore Reserves of 5.22 Mt at 57.9%Fe.	Bidder’s Statement 9 June 2011:50c per share, valuing Territory at$132.6 million.	Noble Group, through BVI registered subsidiary Jonesville Limited (BVI Company Number 327076) Noble Group listed as: SGX: N21
FerrAus (ASX:FRS) Off-market takeover announced 27 June 2011 Bidder’s / Target’s Statement released 5 September 2011 Offer closed 5 October 2011, compulsory acquisition of final 2.37% commenced 6 October 2011	Pilbara Project Provable Ore Reserve of 167 Mt at 57.4% Fe. Life of Mine Production: 227 Mt (wet) at 59.1% Fe South East Pilbara Project Inferred Resource of 158.38 Mt at ~56%Fe	1 Atlas Share for every 4 FerrAus Shares. Target Statement 5 September 2011: Equates to Scrip consideration of 97.3cper FerrAus share. Values FerrAus at approx$400 Million(approx 416 million shares on issue as per Target Statement).	Atlas Iron Ltd (ASX: AGO)

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Pilbara Valuation Comparisons

Aurox Resources (ASX:AXO) Merger by way of Scheme of Arrangement, announced 10 March 2100, implementation complete 24 August 2010	Balla Balla Project: Inferred: 456 Mt at 45% Fe, with JORC Reserves: 128 Mt at 44.7% Fe	ASX Announcement 10 March 2010: 1 Atlas Share for every three Aurox Shares Values Aurox at$143 Million	Atlas Iron (ASX: AGO)
United Minerals Corp (ASX:UMC) Scheme of Arrangement Scheme Booklet released to 18 December 2009 Scheme approved at shareholder meeting 28 January 2010 Scheme Implemented: 18 February 2010	Railway Deposit 158 Mt total, including Indicated Resource of 101 Mt at 60.3% Fe; and Inferred: 57.4 Mt at 58% Fe	$1.30per share, valuing UMC at approx$202 Million	BHP Billiton (ASX: BHP)

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Pilbara Valuation Comparisons

Giralia Resources NL (ASX: GIR) Off-market takeover announced 21 December 2010 Bidder’s Statement lodged 7 January 2011 Target Statement lodged 20 January 2011 Offer closed 28 February 2011, compulsory acquisition of final 2.91% commenced 1 March 2011	McPhee Creek Project: Total DSO Mineral Resource of 265 Mt at 56.2% Fe, being: Indicated: 65.3 Mt at 56.3% Fe; Inferred: 194.7 Mt at 56.2% Fe; and another Inferred CID of 5.17 Mt at 53.6% Dalton’s Joint Venture (GIR 75% holder, Haoma Mining NL 25%) Pre-Feasibility Study (announced 8 September 2010): total 35.1 Mt at 57.2% Fe, being: Indicated: 28.9 Mt at 57.9% Fe; and Inferred: 6.2 Mt at 54.1% Western CreekInferred: 52.4 Mt at 56.7% Fe Anthiby WellInferred: 37.6 Mt at 53.6% Fe BeebynInferred: 7.2 Mt at 57.2% Fe YerecoinInferred: 186.8 Mt at 30.9% Fe	1) 1.5 Atlas Shares or 2) 1.33 Atlas Shares and 50c per Giralia Share. Equates to$4.57per Giralia Share, valuing the company at approximately $828 Million,based on 181,160,170 shares on issue at date of Bidders Statement.	Atlas Iron Ltd (ASX: AGO)

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